Soft saving

0:00new Transsoft saving is it for you? It's why 101 out of an Allison and something that I have noticed about Gen Z. They love to give something a title to make it sound better or more responsible than it actually is. I mean they love a rebrand and I love that for them. I love being able to just rebrand anything it's amazing. So the soft saving, I almost said soft serve because I'm hungry. The soft saving is when you prioritize your quality of life rather than focus on long-term planning. So soft saving does sound like saving at all. It sounds like you don't do whatever you want. No it's exactly what I thought it was going to be and it's exactly why I thought this is how I live my life. Like this sounds like it's right up my alley because it's like my goal is to save. My goal is is that I'm putting more money in the bank than I'm spending. Right. But also yellow, like, but that's not saving. You don't get to call it saving. If I want to book a trip and then

1:01it's like, oops, he's now I got to take that money that I set aside for a rainy day and spend it all. So I could book this hotel and flight and whatever else. I'm going to do it because I'm here to live life and not just, you know, work for the man and try to save. Like you got to have fun too. Bob Wheeler is a CPA and he says it's really a financial approach of I want to make sure I have a good quality of life and I'm and I'm thinking about the future, but not as much as the present. So he says that you could be spending things on like concerts, vacations rather than putting money away for a major purchase like house or a car. Again, soft saving just sounds like hard spending. No, no, no, no. Here's why it's called soft saving is because and it is I totally get it. Gen C has accepted what millennials have are still trying to accept that like that reality of just get a job and put in your dues and eventually you'll be able to retire and you'll have a nice comfortable life and you'll have big savings. That's not going to happen anymore. It's just

2:05not the economy that we're living in. And so they're accepted. I'm never going to be able to retire anyways. It's hard enough to try to go on these vacations. So instead you save for those life experience, you save up enough to buy the concert tickets. You save up enough to go on that vacation instead of saving for things that are always going to be out of your price range like a house or retirement. So is the only difference between soft saving and not saving it all just like if you put it on your credit card, that's not saving at all. If you save up cash for the irresponsible purchase, who's to say it's irresponsible at least you don't have all this credit card debt? Yes, but I mean that can be paid off. You get another credit card and pay that off soft saving.